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Photo: Drew Angerer/Getty Images

President Biden on Thursday rescinded the "global gag rule," a policy that bans international organizations that receive U.S. funding from providing abortion services or offering information about abortion.

Why it matters: The Reagan-era rule, also known as the Mexico City policy, has historically been rescinded or rolled back by Democratic presidents and reinstated by Republican ones. The Trump administration also expanded the rule to include virtually all global health aid.

  • Around $9 billion in aid will now be able to flow to organizations in foreign countries, according to Reuters.
  • Biden also signed a memorandum that asks the Department of Health and Human Services to review a rule implemented by the Trump administration that cut off funding to organizations like Planned Parenthood.

Go deeper

Jan 28, 2021 - World

Thousands rally as Poland's near-total abortion ban takes effect

Thousands of demonstrators take part in a pro-abortion rights protest in Warsaw, Poland, on Wednesday night. Photo: Wojtek Radwanski/AFP via Getty Images

Protests erupted across Poland as a near-total ban on abortion came into effect Wednesday despite widespread opposition to the legislation, per the New York Times.

Why it matters: Abortion is now only legal in cases of rape, incest or if there's a risk to a pregnant woman's life.

  • The ruling Law and Justice Party delayed implementing the October court decision after it sparked the biggest protests since the fall of communism's in 1989.
  • The rallies held amid spiking COVID-19 cases show the anger many feel toward a conservative government that's "growing increasingly autocratic," NYT notes.

D.C.-Beijing tensions are shifting markets

Illustration: Aïda Amer/Axios

U.S. markets stand to lose $2 trillion in value if D.C. and Beijing drift further apart.

Why it matters: Political chasms are showing up in new securities regulations that put companies and investors in a bind. The rules are also another reflection of how much relations between the world’s largest economies have cooled, even as they remain economically interdependent. 

45 mins ago - Health
Axios Investigates

Documents reveal the secrecy of America's drug pricing matrix

Illustration: Aïda Amer/Axios

American businesses spend hundreds of billions of dollars a year on prescription drugs, and the bills keep getting bigger. But some of the companies promising to help rein in those costs prevent employers from looking under the hood.

Why it matters: Documents provided to Axios reveal a new layer of secrecy within the maze of American drug pricing — one in which firms that manage drug coverage for hundreds of employers, representing millions of workers, obscure the details of their work and make it difficult to figure out whether they're actually providing a good deal.